Introduction
The community envisions a New Economic World Order — one that is truly decentralized and democratic. SORA is building to deliver financial inclusion for all without discrimination and providing a better method to manage day-to-day finances.
SORA is an on-chain governance system based around the XOR token that allows producers to make proposals for funding and all token holders make decisions how to allocate XOR so that the best goods and services get created. People who create goods or services should accept XOR for them, thus building the SORA economy.
We believe that inflation is good only if tokens are minted for producing new goods or services
SORA mechanism is based on the General Theory of macroeconomics:
General Theory of macroeconomics
According to the General Quantity Theory of macroenomics, a currency could be inflated in 3 ways:
- 1.for consumption
- 2.for speculation
- 3.for production
Inflating a currency for (1) and (2) leads to price increases and boom-bust economic cycles. Creating money for (3) production can lead to the economic growth at a predictable rate, advancing human development and technology. SORA tokenomics rely on a Token Bonding Curve that helps mitigate boom-bust valuations of most cryptocurrencies, and manages the challenges of not having an elastic supply of capital.
Last modified 5mo ago